« Green Finance » (investissement et financement des activités « durables » (lutte contre le changement climatique, portefeuille de titres à faible empreinte carbone, etc.)
En collaboration avec la chaire BNPP CIB / ESCP Europe
Projet financé par un contrat doctoral de 3 ans
Profil souhaité : Finance / Stratégie
Sport and Finance: three articles on the professional football
Sport is a major economic activity that remains relatively un-analyzed in terms of financial stakes. Based on the theoretical framework proposed by corporate finance, the thesis will present an analysis of the financial mechanisms specific to the football and focus on the following questions:
Corporate Governance and Firm Value
Corporate Governance is a vast but still growing field. Recently the focus is on board composition and CEO’s and board members’ skills, education, culture, and network.
A non-exhaustive list of possible topics is:
Corporate Social Responsibility Policies
Corporate Social Responsibility (CSR) is a new field in the realm of finance that is rapidly evolving. The notion of CSR per se and the way of implementing and merging the corporate social responsible policies with the business strategy is changing as well.
Employee satisfaction and firm value
Working environment and employee satisfaction have been proved to enhance long term firm performance.
Antitrust / Industrial Organization
European antitrust decisions rely more and more on economic arguments and models. Two areas will be of particular interest in the coming years:
1) Intellectual property rights and their use as a competitive tool and 2) Information exchange between competitors. Analyzing these problems requires sound foundations in game theory and the theory of industrial organization. PhDs on these topics can rely on empirical work as well as on game theoretic modelization of markets. (Prof. Michael Troege)
Auction theory is by now a mature filed of game theory; however, the theory has not been applied very much. There are many real life situations where auction theory can contribute to a better understanding of markets and help to improve the selling process. Examples are Treasury bond auctions, IPOs, Corporate Takeovers. Doing a PhD in auction theory requires sound mathematical background and if possible some knowledge of game theory. (Prof. Michael Troege)
Empirical /Theoretical Corporate Finance
Corporate Finance decisions such as the choice of capital structure, dividend policy, the use of innovative financial instruments, risk management policies etc. interact in complex ways with a company’s strategy and can have a decisive impact on performance. Today researchers use microeconomic models to describing and understand these mechanisms. At the same time the availability of very large electronic databases makes it possible to empirically identify fascinating relationships between different seemingly unrelated variables. Given a good mathematical background, the necessary econometric knowledge can be acquired during the first year of doing a PhD. (Prof. Michael Troege)